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Defensive layers and yield opportunities
Chief Investment Officer, Core Business
On-demand audiocast: Defensive layers and yield opportunities in fixed income.
Our fixed income strategies incorporate multiple layers of defense in order to boost portfolio resilience in volatile markets. We place credit risk monitoring and diversification at the core of our corporate strategies as a crucial way to add value.
In this audiocast, CIO Fixed Income Yannik Zufferey, explains the current market situation and the implications for corporate credit strategies.
Listen to our on-demand audiocast now for a comprehensive breakdown of key issues including:
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The unprecedented impact of COVID-19. Quarantine, social distancing, working from home and closure of retail outlets has led to a massive but unquantified demand shock
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Credit markets have reflected this demand shock with a significant sell-off, in terms of magnitude and speed, with record outflows. Governments and central banks have announced plans to provide considerable support for market liquidity, and should also benefit credit markets, but uncertainty remains
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In these uncertain times, company liquidity is critical. Our fundamental credit analysis focuses on assessing the impact by sector as well as ensuring that within each sector, companies have sufficient cash and bank lines to survive this challenging period
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We believe the current illiquidity and panic in the market are distorting credit spreads for all borrowers, regardless of fundamentals. Whilst remaining defensive, we believe our differentiated approach also present opportunities for investors
Listen to our Fixed Income audiocast
important information.
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